Economic Loss PLAN

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Economic Loss is damage to the wallet of the victim- the claimant is less well of than they would have been had the negligence not occured

There are two types of economic loss; consequencial economic loss and pure economic loss. The case of Sparton steel shows the difference between the two. 

A pure economic loss is normally not recoverable (Cattle) however there is an exception...

Negligence Mistatement; a statement (verbal or written) made by the defendant to someone that he owes a duty of care to, which, due to his negligence, is inaccurate and causes the claimant foreseeable economic loss...

-Neighbour principle (owes a


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